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January 25, 2019
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Changes in Central GST Act’2017

  • Section 2(4). “Adjudicating authority”, now means any authority, appointed or authorized to pass any order or decision under this Act, but does not include the Central Board of Indirect Taxes and Customs, the Revisional Authority, the Authority for Advance Ruling, the Appellate Authority for Advance Ruling, the Appellate Authority, the Appellate Tribunal and the Authority referred to in sub-section (2) of section 171”
  • Section 7(1) (1A) , Regarding scope of supply”, where certain activities or transactions constitute a supply in accordance with the provisions of sub-section (1), they shall be treated either as supply of goods or supply of services as referred to in Schedule II ”
  • Statutory threshold of turnover for a taxpayer to be eligible for composition scheme” will be RS.1.5 crore and composition taxpayers will also be allowed to supply services (other than restaurant services), for up to a value of not exceeding 10 percent of turnover in the preceding financial year, or five lakh rupees, whichever is higher.


GST portal updated to allow amendment in B2B invoices pertaining to FY 2017-18.


Changes in definitions Central GST Act’2017

  • Section 2 (17)(h) defining “Business”, now includes (h) activities of a race club including
    by way of totalisator or a license to book maker or activities of a licensed book maker in such club.
  • Section 2 (18), “Business Vertical”, will be omitted implying that an assessee can take separate registration for different business premises located within a state for same business vertical
  • Section 2(35) “Cost Accountant”, means a cost accountant as defined in clause (b) of sub-section (1) of section 2 of the Cost and Works Accountants Act, 1959, hence correcting the clerical error while drafting the CGST Act.
  • Section 2(69) “Local authority”, means a Development Board constituted under article 371 and article 371 J of the Constitution, implying that development board formed under Article 371J for Hyderabad Karnataka region shall also be considered as local authority under GST.
  • Section 2 (102) “services” means anything other than goods, money and securities but includes activities relating to the use of money or its conversion by cash or by any other mode, from one form, currency or denomination, to another form, currency or denomination for which a separate consideration is charged, implying that transactions in securities are excluded from the definition of services.

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